AkzoNobel to outline plans for creation of two focused businesses and provide updated financial guidance at investor update on April 19

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AkzoNobel to outline plans for creation of two focused businesses and provide updated financial guidance at investor update on April 19

March 28, 2017 - 02:22
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    AMSTERDAM, The Netherlands , March 28, 2017 (Globe Newswire) -
  • Plan for enhanced value creation
  • Demonstrates benefits of two focused businesses
  • Results for first quarter 2017 to be announced on same day

AkzoNobel will hold an investor update on Wednesday, April 19, 2017 to outline plans for the creation of two focused businesses and enhanced long-term value creation. This investor update follows the recent announcement to review strategic options for the separation of its Specialty Chemicals business.

The company will provide updated financial guidance and growth plans, demonstrating the benefits of two focused businesses. Further details regarding the strategic options for the separation of its Specialty Chemicals business will be provided.

AkzoNobel will also publish results for the first quarter 2017 on Wednesday, April 19, 2017. This date has been brought forward to shorten the close period, enabling the investor update to take place.

Ton Büchner, CEO, AkzoNobel:

"We have, during recent years, achieved record performance levels for AkzoNobel in terms of profitability and a range of operational measures, generating value for shareholders. We are delivering on our commitments. AkzoNobel is now a leaner, more agile company with a solid financial and operational foundation and a focus on accelerating growth.

Our new strategy will further unlock the value within the company, including the creation of two focused businesses. We are convinced we have a strong platform to build further on our leadership positions to deliver improved profitability and additional long-term value creation for shareholders, employees, customers, the communities where we operate and other stakeholders.

We are best placed to deliver these plans ourselves, building on the existing momentum we have within the company. We look forward to sharing more details on our vision of the future for AkzoNobel."

AkzoNobel creates everyday essentials to make people's lives more liveable and inspiring. As a leading global paints and coatings company and a major producer of specialty chemicals, we supply essential ingredients, essential protection and essential color to industries and consumers worldwide. Backed by a pioneering heritage, our innovative products and sustainable technologies are designed to meet the growing demands of our fast-changing planet, while making life easier. Headquartered in Amsterdam, the Netherlands, we have approximately 46,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently ranked as a leader in sustainability, we are dedicated to energizing cities and communities while creating a protected, colorful world where life is improved by what we do.

AkzoNobel had total revenues of €14.2 billion in 2016: Specialty Chemicals - €4.8 billion, Decorative Paints - €3.8 billion, Performance Coatings - €5.7 billion.